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Updated over 5 years ago,

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1
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Sara Holmes
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1
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Hubzu changed bid terms in the actual contract

Sara Holmes
Posted

I won a Hubzu auction that stated that conventional financing, rehab loan, or cash was acceptable, so I made my bid contingent on Conventional Financing at 20% down. They sent an email saying I was the selected bidder, but today I just got the actual Purchase & Sale Agreement and under "Financing Contingency Amount" it says $0. So this means no financing contingency. I emailed the Hubzu rep assigned to me and also the Altisource agent stating the PSA doesn't match the terms of my actual winning bid. I included a screenshot of my Bid Screen from Hubzu which clearly shows the financing contingency and the dollar amount to be financed. My question is, I know Hubzu is notorious for making 0 changes to PSAs. Has anyone had success getting them to correct an error that was their fault, especially when it has to do with something as important as a mortgage contingency?

This is an amazing deal and I would really hate for them to throw it back up for auction.